Vanadian Energy Announces Settlement of Debt

Core Viewpoint - Vanadian Energy Corp. has received approval from the TSX Venture Exchange to settle outstanding debt of C$1,225,219 through the issuance of 7,657,617 common shares at a price of $0.16 per share, which will strengthen the company's balance sheet [1][3]. Debt Settlement Details - The debt settlement resulted in the issuance of shares exceeding 100% of the company's current outstanding shares, leading to the creation of two new Control Persons, which was approved by disinterested shareholders at the annual general meeting on June 26, 2025 [2]. - The debt settlements with Clive Johnson and Gordon Keep are classified as related party transactions under MI 61-101, exempt from valuation requirements due to the company's listing status [2]. Shareholder Changes - Clive Johnson acquired 3,341,856 common shares, increasing his total ownership to 3,860,994 shares, representing 32.49% of the issued shares and 32.84% on a partially diluted basis [4][11]. - Gordon Keep, through controlled entities, acquired 2,718,750 common shares, resulting in ownership of 2,718,750 shares, which represents 22.88% of the issued shares and 23.15% on a partially diluted basis [6][11]. Future Intentions - Both Clive Johnson and Gordon Keep may acquire or dispose of additional securities of the company in the future, depending on market conditions [5][7]. Company Overview - Vanadian Energy Corporation focuses on the strategic acquisition, exploration, and development of high-quality energy mineral properties, particularly in vanadium, aiming to establish itself as a leading resource company in this sector [9].